1450                             Laws of Maryland                      [Ch. 680

of Maryland (1968 Replacement Volume and 1970 Supplement),
title "Insurance Code," subtitle "Rates and Rating Organizations";
to enact new Section 242 of said Article, to follow immediately-
after Section 241 thereof, and to stand in the place of the sections
repealed; and to redesignate the current Section 243(n) of said
Article as new Section 243; relating generally to the laws govern-
ing insurance rates and rating organizations.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 242, Sections 243(a) through 243(m), inclusive, and
Section 243(o) of Article 48A of the Annotated Code of Maryland
(1968 Replacement Volume and 1970 Supplement), title "Insurance
Code," subtitle "Rates and Rating Organizations" be and they are
hereby repealed; and that new Section 242 of said Article be and it
is hereby enacted, to follow immediately after Section 241 thereof,
and to stand in the place of the sections repealed, to read as follows:

242. Rate Filings.

(a)    This section applies to all types of insurers. It applies to the
following types of insurance subject to the exceptions set forth in
subsection (b) of this section.

(1)    "Property insurance" as defined in Section 67.

(2)    "Casualty insurance" as defined in Section 68.

(3)    "Surety insurance" as defined in Section 68 69.

(4)    "Marine" and "wet marine and transportation" insurance as
defined in Section 70.

(b)    Exceptions. This section does not apply to:

(1)    Reinsurance, other than joint reinsurance to the extent
stated in subsection (k) (M);

(2)    Insurance of vessels or craft, their cargoes, marine protec-
tion and indemnity, or other risks commonly insured under marine,
as distinguished from inland marine, insurance policies;

(3) Insurance against loss of or damage to aircraft including
their accessories and equipment, or against liability other than work-
men's compensation, employers' liability arising out of the owner-
ship maintenance, or use of aircraft.

(4)    TITLE INSURANCE;

(5)    THE MARYLAND STATE ACCIDENT FUND.

If any kind of insurance, subdivision or combination thereof, or
type of coverage, subject to this section, is also subject to regulation
by another rate regulatory section of the statutes of this State, an
insurer to which both sections are otherwise applicable shall file with
the Commissioner a designation as to which rate regulatory section
is applicable to it with respect to such kind of insurance, subdivision
or combination thereof, or type of coverage.

(c)    Making of rates. All rates shall be made in accordance with
the following principles:

(1) Due consideration shall be given to (i) past and prospective
loss experience within and outside this State; (ii) conflagration
and catastrophe hazards, if any; (iii) past and prospective expenses
both country-wide and those specially applicable to this State; (iv)